More po­ten­tial ex­pected for off­shore wind

Costs have been fall­ing rapidly and are ex­pected to de­cline by a fur­ther 30%

Utilities Middle East - - NEWS -

Off­shore wind en­ergy is in the fast lane and pick­ing up speed. Driven by rapidly fall­ing costs and tech­no­log­i­cal in­no­va­tion, off­shore wind ca­pac­ity grew by 25% be­tween 2016 and 2017, the di­rec­tor gen­eral of the In­ter­na­tional Re­new­able En­ergy Agency (IRENA) told a sum­mit at the G7 meet­ing.

Speak­ing at the Oceans Part­ner­ship Sum­mit dur­ing G7, IRENA di­rec­tor gen­eral Ad­nan Z Amin un­der­lined the po­ten­tial of off­shore wind to meet en­ergy de­mand, stim­u­late eco- nomic growth and gen­er­ate em­ploy­ment – cri­te­ria that he de­scribed as hall­marks of the global en­ergy trans­for­ma­tion.

Com­pared to other re­new­able en­ergy tech­nolo­gies, off- shore wind still makes up a small part of global power gen­era- tion. To­day, there is slightly less than 19 GW of in­stalled off­shore ca­pac­ity, two-thirds of which is gen­er­ated by G7 coun­tries, but the global growth trend is im­pres­sive, said IRENA.

“Costs have been fall­ing rapidly and are ex­pected to de­cline by a fur­ther 30% by 2030, lead­ing to an ex­pected growth in in­stalled ca­pac­ity to 128GW by 2030 and 521GW by 2050. In­vest­ment in off­shore wind could reach $350bn by 2030.”

Newspapers in English

Newspapers from UAE

© PressReader. All rights reserved.